Friday, September 20, 2024

Business

ITC share price rises after global brokerage retains buy, sees 24% upside

ITC share price rises after global brokerage retains buy, sees 24% upside

The ITC Action Award jumped more than 2% during the morning session on September 7 after CLSA maintained a “purchase” call the stock with the target at 265 rupees per share.

The brokerage firm is of the opinion that the activity of the FMCG is firmly on the path of a profitable scale. It expects its FMCG activity to provide a 31% EBITDA CAG on ACR20-24, has announced a CNBC-TV18 report.

“Unlike the past, inorganic growth should provide an additional growth lever. The evaluation is convincing with a record-high PE reduction at the MCGC average and a 6% dividend yield,” added.

The stock was traded at RS 213.70, up 4.35 RS, or 2.08% at 1037 hours. He has received a high intraday of Rs 214.25and a low intraday of 210.20 RS.

The SCRIP was marketed with volumes of 1,373,937 shares, compared to its five-day average of 592,099 shares, an increase of 132.05%.

The President of the Society and the Director General of Sanjiv Puri told the shareholders at their 110th Annual General Assembly (AGM) and Digital and Sustainability, the two trends defining the new normal, will focus on the ITC in the years to come and That the company will continue to explore opportunities rooted at the intersection of these two.

The gross revenues and gross profits of the FMCG Company after tax for the 2001 fiscal year were more than 48,000 Crores and Rs. 13,000 crore, respectively.

“Sustained investments are deployed to strengthen and strengthen the ITC World Class Indian Trademarks, which draws a new impetus for the strategic revitalization of FMCG companies and the Synergies of the ITC’s institutional forces, in order to Realize our aspiration to be Number 1 of India 1 FMCG Society, “said Puri.

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